Teekay Tankers Stock To Go Ex-dividend Tomorrow (TNK)

NEW YORK ( TheStreet) -- The ex-dividend date for Teekay Tankers (NYSE: TNK) is tomorrow, August 17, 2011. Owners of shares as of market close today will be eligible for a dividend of 21 cents per share. At a price of $6.98 as of 9:33 a.m. ET, the dividend yield is 14.2%.

The average volume for Teekay Tankers has been 522,400 shares per day over the past 30 days. Teekay Tankers has a market cap of $343.8 million and is part of the services sector and transportation industry. Shares are down 43.2% year to date as of the close of trading on Monday.

Teekay Tankers Ltd., through its subsidiaries, engages in the ownership and operation of oil tankers. As of March 1, 2010, the company's fleet consisted of nine Aframax-class oil tankers and three Suezmax-class oil tankers. The company has a P/E ratio of 43.5, above the average transportation industry P/E ratio of 19.9 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Teekay Tankers as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and unimpressive growth in net income. You can view the full Teekay Tankers Ratings Report.

See our dividend calendar or top-yielding stocks list.

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